Te presento a mi amigo
Can this sentence distinguish between the following two meanings?
I introduce you to my friend
I introduce my friend to you
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The verb presentar means to introduce the direct object, generally to the indirect object.
In your example, te could be either a direct or an indirect object. If the sentence had a direct object with it (te presento mi libro or te lo presento) then we'd know for sure it's functioning as an indirect object. Likewise, if it as an indirect object (ye presento a la compañía, te le presento), we know for sure it functions as an direct object.
So with that in mind, let's look at the rest of the sentence. a mis amigos looks like a pretty clear indirect object, but because amigos is animate, it requires the a personal if it's a direct object.
Thus, as stated, the sentence is ambiguous. Both te and mis amigos can function as either the direct or the indirect object.
You can force the you to them making by adding a second pronoun in front of the verb te les presento a mis amigos because coapparition of the indirect object is permitted with the explicit reference after the verb. Direct objects only allow for coapparition when the explicit reference is in front of the verb, so the sentence stays unambiguous even in leísta dialects.
The only way to force the them to you meaning would be to say te los presento, but then you'd have to mention your friends first: a mis amigos te los presento